AnPac Bio-Medical Science Co., Ltd. (ANPC), a biotechnology company, declined 4.36% in Friday’s regular trading session to close the day at $0.47. In the premarket trading session, ANPC stock has gained a nominal increase of 0.64% and as a result, was trading at $0.47 when last checked. The latest release from the company was regarding receipt of a letter from NASDAQ.
Receipt of Staff Determination Letter
On Friday, ANPC announced it had received the Staff determination letter from NASDAQ. The letter notified it regarding the Staff’s determination for delisting the securities of the company from the NASDAQ because it failed to regain compliance with the minimum value that a company required for continued listing, i.e. $50,000,000.
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Filing for Breakthrough Device Designation
In early February, ANPC announced it had filed a request for a Breakthrough device designation regarding the CAD-based medical product with US FDA. The novel CAD technology primarily relies on detecting the biophysical signals in the blood of an individual. The technology would be used for figuring out the risk level of more than 20 types of cancers in the human body.
Accolade for ANPC
In late January, Frost & Sullivan Company, a firm that analyses and researches the US market, announced it have ranked AnPac Bio (ANPC) as the world’s number one company in multiple cancer screening and detection volume. The accolade was conferred in a research report which also included information regarding next-generation cancer screening and detection technologies. For these technologies, Frost & Sullivan was ranked number one with a total volume of detection tests at 216,600.
What’s in Store for ANPC?
Looking ahead, analysts are holding a negative evaluation of ANPC stock. The stock holds several bleak technical indicators, and hence, is expected to perform weakly in the next couple of weeks. Therefore, investors should take careful decisions regarding investment in the stock.